i mean, that's a deliberate circumvention, right? >> it certainly sounds like it. and it certainly sounds like a good place to start a criminal investigation. >> in fact, according to a civil suit filed by the securities and exchange commission, countrywide's chief executive officer, angelo mozilo, knew as early as 2006 that a significant percentage of its subprime borrowers were engaged in mortgage fraud and that it hid this and other negative information about the quality of its loans from investors. when the case was settled out of court, the s.e.c.'s director of enforcement, robert khuzami, called mozilo "a corporate executive who deliberately disregarded his duty to investors by concealing what he saw from inside the executive suite-- a looming disaster in which countrywide was buckling under the weight of increasing risky mortgage underwriting, mounting defaults and delinquencies, and a deteriorating business model." mozilo, who admitted no wrongdoing, accepted a lifetime ban from ever serving as an officer or director of a publicly traded company, and agreed